Business outlook improves, chamber survey shows

Analysis

The biannual gauge of business confidence by the Hungarian Chamber of Commerce and Industry's (MKIK) Economy and Business Research Institute (GVI) rose to +34 points in October from +30 in April, MTI new agency reported.

Chamber head László Parragh said businesses' outlook shows the Hungarian economy is on the path of growth, although managers still see external risks, such as the slowdown in growth in Germany and the protraction of the Russia-Ukraine conflict, as well as uncertainty over the domestic regulatory environment.

With the exception of the construction industry, every component of the confidence measure improved. The index was the highest among industrial companies, with foreign-owned exporting companies being the most optimistic.

Economic growth is more and more based, however, on domestic resources, Parragh said. The ratio of competitive sector companies planning large hires in the next six months was the highest in 12 years, he added. The survey also indicated a rise in capacity utilisation. In answer to a question, Parragh said that foreign criticism against Hungary has in general had an adverse effect on confidence, but senior business officials still see it worth investing here. 

ADVERTISEMENT

Credit card fraud causes HUF 322 mln of damages in Q2 Figures

Credit card fraud causes HUF 322 mln of damages in Q2

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

BFK developing regional cycling strategy City

BFK developing regional cycling strategy

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.